In my perspective, yes, I'm not buying one until it goes cheaper, it's definitely overpriced. IMO

Actually what you said was "Its sales will continue to slow until they knock it down to $199.99" and that is what you got called out on because the Wii is not in a continuing phase of slowing sales. Sales are increasing. The only way for that quoted phrase to be true is if you specifically meant Japan, but you made no mention of Japan specifically so I'm guessing not.

Here's the problem in your worldview. Perhaps you're just substituting your own preferences (that's fine), or you're only looking at this from a tech-sheet perspective (that seems to be the case), but "value" includes much more than just a list of features/price. For starters, recall that most of us buy game consoles to play games, and the Wii has tons of games that its competitors don't. This changes its value radically, especially for the "broad audience" that you spoke of (who demonstrably have little interest in the HD consoles' offering).

To put it in perspective (and use a HIGHLY incomplete car analogy), the finest sports car in the world ain't worth jack if you need a really reliable pickup truck. Put alternatively, most people see a console's primary value in its games, rather than its bells and whistles, and the Wii's games apparently appeal to them more.

no

Good point, Soriku. 40$ for a DS game is crazy, even more crazy than 60$ for an HD game when you consider what you're paying for. There's no reason DS games should cost as much as PSP games or even lower priced Wii games.

It all depends on how subjective you are with the question. other 2 consoles are loosing money each time they are being sold while Wii has been out of stock for 2-3 years while making roughly 6 USD for each console they've sold. From a business point of view, I really can't say it's over priced at all because you are supposed to make money off the things you sell. From a consumer point of view, I think the PS3 is the best value because I can't stand the idea of paying for xbox live since I've been a PC gamer for a very very long time and if I already pay for my internet, why should I pay that much money per month to play video games? I'm staying with my PC for massive online gaming, that or PSN since it's free.

Another consideration is that Wii games are cheaper, and don't bring up the shovelware thing because smart people don't buy shovelware, and the triple A titles on Wii are cheaper than the other 2 consoles so the more games you buy for Wii, the more value it has, there are a lot more I can go on actually. It's all points of view, but personally, I don't think the Wii is over priced when you look at all the factors, if anything, PS3 is a little under priced and 360 is uh, making money else where with their paid service which making it the most expensive console on the market.

The PS3 has no value to anyone who doesn't want to play it's games.... value has nothing to do with how much it costs to produce.

The Wii was reported to be making $48 per unit in America, $70ish in Europe and was it $17 (I think?) at launch in Japan.
That was an estimate on parts alone, not taking into account things like shipping, packaging and marketing... and also I think ignoring European taxes.

The Wii was already using chipsets that were not exactly new and revolutionary (Nintendo basically wanted a much smaller, cooler running version of the GameCube with a small (X2) increase in relative power..... so the chips will not have been possible to reduce the cost on as much as the CELL could.... reducing the cost on a totally new thing like the CELL happens quite quickly and with quite a lot of money taken off, so while the CELL may have gone from being $150 per chip at launch to maybe $20 now, the Wii chips were already less than that to begin with so there is not much scope to save money. ESPECIALLY when the Wii chips are still using 90nm process, while the PS3 and X360 have moved on to I think 45nm by now... which is much cheaper to manufacture, as well as being cooler to run so less need for expensive cooling (don't the new PS3s only have 2 fans compared to 4 in early models?)

All that means the Wii could not have had significant cost reduction put in pace from the launch models.... in fact with the exchange rate so poor I believe they are making less per console now than they did at launch.... you can see this with the profits being made, because the are making about double the profits per quarter now than they did nearer launch, yet they are selling double the number of Wiis, and many times the units of software.... so even if the profit per unit had remained the same they should have been making over double the profits they were back then.... surely if the costs had  reduced so much like you seem to believe they should be making as much as the whole of Microsoft does by now.

Perhaps you just haven't done any maths?

at $50 pure profit per Wii, with 25 million Wiis sold in 1 year.... that comes to $1.25 billion.

The end of this Fiscal year looks like it will have pulled in about $3.5 billion..... Now take away DS profits, as well as Wii Software profits, all of which are almost certainly higher than Wii Hardware profit..... It sure doesn't make any sense for Wii hardware alone to be pulling in even $50 per system.

I haven't read a single post in this thread, but this is the dumbest question ever.

No it's not overpriced.

For the past two years the Wii has been UNDER PRICED.

Anyone with even a miniscule education in economics understands that the equilibrium price is where market supply and demand are equal.

For the past two years, the supply has been unable to meet demand at it's current price, so the Wii is UNDER PRICED.

I ruled that they won't really win this gen until I buy one, so they'll better cut that price!!!

I think of "slowing" as a derivative of growth of the industry.  Does that make my viewpoint clearer?  Last Year the Wii had momentum, in terms of marketshare, that looked as though it would eventually reach near ~60% marketshare.  Now it looks like it will never hit 50%, because its competition has increased at a larger pace, with regards to week-to-week marketshare.

Of course, marketshare and profit don't necessarily go hand-in-hand.  You could argue from the profit viewpoint, in which case I would agree -- the Wii doesn't need a pricecut yet.  I am looking at it from a marketshare/conquest perspective, with my comments.

@TWRoO: The "PS3 has no value if you don't want to play its games" comment above makes no sense... Did you mean the Wii, which doesn't function as a DVD player, CD player, etc, let alone a BD player?